MARKETING PLAN

Marketing Plan of Company G

Table of Contents

INTRODUCTION1

How the Selected Small Appliance Supports Company G's Mission Statement1

TARGET MARKETS1

Target Market For The Company's Product2

COMPANY MANAGEMENT2

PORTER 5 FORCES ANALYSIS3

MARKET DEMOGRAPHICS3

Geographic3

Demographics3

Psychographic Factors4

MARKET NEEDS4

MARKET TRENDS4

STRENGTHS RELATED TO MARKETING OF PRODUCTS4

Supporting the Choice as Strengths5

Core Competencies5

WEAKNESSES RELATED TO MARKETING OF PRODUCT5

Supporting the Choice as Weaknesses6

CURRENT OR POTENTIAL OPPORTUNITIES6

Supporting the Choice as Opportunities6

CURRENT OR POTENTIAL THREATS7

Supporting the Choice as Threats7

MARKETING OBJECTIVES7

MARKETING STRATEGIES8

Product strategy8

Pricing strategy8

Placement strategy8

Promotional strategy9

Explanation of the selection of the marketing mix9

TACTICS AND ACTION PLAN9

Marketing Mix9

REFERENCES11

APPENDICES12

Timeline12

COMPETITIVE ENVIRONMENT UTILIZING PORTER'S FIVE FORCES MODEL OF COMPETITIVE FORCES13

Threat to competition13

The threat of new entrants13

The threat to the bargaining power of customers13

The threat to the bargaining power of suppliers.14

The threat of substitute products14

MONITORING PROCEDURES14

Buying Is Easier15

A Direct Link with Suppliers15

Quieter and Faster16

The Cost of Sales Decrease16

Marketing Plan of Company G

Introduction

The main aim of the company G is to provide the good quality appliances with the proper usage booklet and in all the range of price too. The mission of the company G is, “We enable consumers to improve the quality and convenience of their lives by providing high-quality, innovative electronic solutions.” The statement itself shows the willingness of the company towards its customers and product range.

How the Selected Small Appliance Supports Company G's Mission Statement

The mission of Company G not only focuses on their technologies but also focuses on their quality. The mission statement of Company G itself shows that they value their customers in the best possible way, by means of their quality products and services.

Company G will primarily target teenagers and youngsters, but gradually it will serve all classes of the customers like middle age and elders. As far as the classes concerns Company G will target middle, upper-middle and upper class customers (Everett & Aakhus 2002).

Target Markets

Company G is a well-established firm that is highly regarded in the electronics market. As discussed earlier, the electronic industry market is not limited to customer base, so Company G will target the mass market for its Electronic products (McCarthy, 1975). The main target of the company G is the residential people.

Target Market For The Company's Product

The use of these small appliances is mainly in the homes. House wives are the main target of the company G. Company caters these customer by focusing on their market tactics. All the age groups and business classes target around the globe. The initial launch will take place in U.S. only. Secondly, the market segments are based on the small to medium size businesses that buy in-expensive equipments and then later sell it. Commercial sales are not industry specific. All businesses, regardless of type, have pieces of equipment that can be protected.

Company Management

Success of the market would be based on the assessment of the market and a well-crafted plan by implementing the marketing strategies tool. The main responsibility of a manager is to design such the marketing strategies that are helpful for the company and increases the profit of the company in the ...